LONDON, Jan. 23, 2017 /PRNewswire/ -- The global metal injection molding market size is anticipated to reach USD 6.52 billion by 2025, according to a new report by Grand View Research, Inc. The growing demand for small components in the automotive, consumer products, and medical equipment industry is projected to propel market demand over the coming years.
Metal injection molding technique enables the production of a large number of parts which high precision, this has increased the demand for MIM components used in surgical equipment, fire arms, aerospace, telecommunication, and the automotive sector.
The metal injection molding is projected to experience tremendous growth over the forecast period on account of increasing investment in the medical and defense sector. The injection molding technique is preferred by manufacturers as it is cost-effective, requires less production time & finishing, and reduces wastage of raw materials.
Further Key Findings from the Study Suggest:
MIM saves time & cost, allows ultimate design freedom, large production volume, and no wastage of raw materials which are some of the factors influencing its demand in various end-use verticals
The growing demand for smartphones, watches, laptops, electrical & electronic products and other components used in consumer durables is anticipated to boost the market growth in the consumer product segment
The medical segment is projected to grow the second highest CAGR on account of growing demand for small surgical instruments and implants
Asia Pacific is projected to grow at the highest CAGR on account of increasing manufacturing activities undertaken in China, India, and Japan
High investments in the medical and defense sector of North America is also projected to impact market growth positively
Companies are engaged in the development of specialized components in accordance to clients customized requests
Influential companies operating in this market include Dynacast, GKN Plc, Britt Manufacturing, DeanGroup International Ltd., Cypress Industries, Sintex, CMG Technologies, Indo-MIM Pvt. Ltd., Real Technik AG, and ATW Companies among others
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